Doordash files for IPO, reveals sales have soared during pandemic

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DoorDash, the U.S. food delivery startup backed by SoftBank Group, on Friday made public its regulatory filing for a listing on the New York Stock Exchange, setting the stage for a blockbuster market debut before the end of the year.

In its IPO filing, DoorDash reported revenue of $1.92 billion for the first nine months of 2020, up more than three times from the same period a year earlier.

DoorDash’s filing kicks off a frenetic period for U.S. capital markets, with several high-profile names including home rental giant Airbnb, e-commerce firm Wish and PayPal co-founder Max Levchin’s lending startup Affirm lined up for stock market debuts in December.

DoorDash filed for an IPO of $100 million, although that is a placeholder amount and is expected to change.

The startup had confidentially filed for an IPO in February, following the likes of ride-hailing companies Uber Technologies Inc UBER.N and Lyft Inc LYFT.O, which went public last year.

Goldman Sachs and J.P. Morgan are the lead underwriters for DoorDash’s IPO.